The Central Bank of Nigeria is set to release new N200, N500 and N1000 notes in a bid to control money supply.
Godwin Emefiele, Governor, CBN revealed this on Wednesday during a press briefing where he said the new Naira notes will be in circulation from December 15, after president Muhammadu Buhari launches the new notes.
Read also: Naira sinks further as oil, external reserves fall
He added effective January 31, 2023, the old notes will cease to be a legal tender.
Henceforth, bank charges on deposits will be suspended to as old naira notes are remitted back to the banks.
…details later
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